The Securities Investors Association Singapore (SIAS) has called for the strict regulation of land banking investments, after hundreds of investors here filed complaints against British firm Profitable Plots.

The disgruntled investors claim that the company has not been transparent in its dealings, with repeated queries about their land banking investments to the firm’s directors falling on deaf ears.

One month after SIAS belatedly took up the Profitable Plots case, they called for greater regulation of the land banking industry in Singapore.

It is disappointing that SIAS is not taking more proactive steps to help the investors.